Longi, Jinko and Adani were India's largest module suppliers in the first half of 2020
Post date: 12/11/2020 - 08:35
Longi Solar (China), Jinko Solar (China), and Adani (India) emerged as the top three solar modules suppliers in India in the first half (1H) of the calendar year 2020. Together, these three suppliers accounted for about 31 percent of the total market share. The top 10 module suppliers cumulatively represented over 74 percent of the total market share in 1H 2020, according to the »India Solar Market Leaderboard 1H 2020,« published by Mercom India, part of Mercom Capital Group.
Longi Solar was India’s top solar module supplier in the first half of 2020 with a market share of 13 percent. The company is in the midst of acquiring solar cell and module manufacturer Ningbo Jiangbei Yize which has module and cell manufacturing capacity of 7 GW and 3 GW, respectively.
Jinko Solar followed with the second highest shipments to India in the first half of 2020 (9 percent). Its principal operating subsidiary Jiangxi Jinko is on the verge of listing on the Shanghai Stock Exchange’s Sci-Tech Innovation Board after some intragroup restructuring. According to the consultancy, Adani was the third largest supplier of modules to the Indian solar market (about 9 percent).
Last year, Waaree Energies, Adani Solar, and Risen Energy were the top three solar modules suppliers in terms of shipments to the Indian solar market in the calendar year 2019.
This year, India's central government proposed a Basic Customs Duty (BCD) of 20 percent on imported solar cells and modules to encourage the domestic manufacturing market. Since then, there has been no clarity on the implementation of this proposal and the solar module suppliers are waiting for it.
India is one of the top solar markets in the world having installed about 37 GW as of June 2020. There are also 41.7 GW of large-scale projects under development, and another 32.4 GW of projects tendered and awaiting auction.